As Bitcoin continues its fight to reclaim its all-time high of $99,419 and break the $100,000 psychological barrier, several altcoins defied the trend and reached new all-time highs today.
BeInCrypto analyzed three tokens that reached all-time highs today, led by Bitget Token (BGB).
Bitget Token (BGB)
BGB, the native token of cryptocurrency exchange Bitget, rose to a new all-time high of $1.70 during the Asian session. It currently trades at $1.66, marking a 2% drop from its peak price.
Today’s all-time high is the fifth in seven days. This reflects the steady increase in demand for the altcoin driven by investor confidence. The configuration of BGB’s Super Trend indicator on its daily chart confirms this bullish outlook.
This indicator measures the general direction and strength of a price trend. It appears as a line on the chart, changing color based on the prevailing trend: green means an uptrend, while red indicates a downtrend. Buyers are in control when the Super Trend line turns green and moves below the price, signaling that bullish momentum is strong.
BCG Price Analysis. Source: TradingView
However, BGG must sustain its rally above the critical support level of $1.45 to maintain market confidence. A drop below this price level could trigger further declines, preventing it from reaching new all-time highs.
Snack (SNEK)
SNEK, Cardano's memecoin, rose to an all-time high of $0.0047 today. Although its price has dropped 9% since then, the token continues to enjoy a significant upward bias.
This is confirmed by its rising Average Directional Index (ADX), which stands at 63.50 at the time of publication. This indicator measures the strength of a market trend, with values ranging from 0 to 100, where higher numbers indicate stronger trends.
SNEK’s current ADX reading during its price rally signals a strong uptrend. It indicates that buyers are firmly in control, and the rally is likely to persist. The memecoin’s price will reclaim its all-time high and surpass it if this happens.
SNEK Price Analysis. Source: TradingView
On the other hand, SNEK price may drop to $0.0038 if selling pressure increases.
Why (WHY)
WHY is currently trading at $0.00000025. It reached an all-time high of $0.00000049 earlier today and witnessed a 40% pullback. This is due to increased selling activity, which put pressure on its price. On the daily chart, the WHY price is now down by 11%. If this decline continues, it could test the critical support at $0.00000017.
WHY Price Analysis. Source: TradingView
On the other hand, a resurgence in demand for the altcoin could push its price above the $0.00000030 range and towards revisiting its all-time high.
The article 3 cryptocurrencies that reached all-time highs today was first seen on BeInCrypto Brasil.